Schumacher Group seeks $120 million credit facility via GE Capital

By Sara Rosenberg

New York, May 12 - Schumacher Group is in market with a $120 million credit facility, according to a market source.

GE Capital is the lead bank on the deal that was launched this past Tuesday.

The facility consists of a $50 million revolver and a $70 million term loan, with both tranches talked at Libor plus 400 basis points with a 1.75% Libor floor and an original issue discount of 981/2, the source said.

Proceeds will be used to refinance existing debt and fund a dividend.

Schumacher is a Lafayette, La.-based emergency medical staffing and management company.

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